UPDATE: Jefferies Downgrades Heckmann Corporation to Hold on Sluggish Shale Activity

Jefferies downgraded Heckmann Corporation (NYSE: HEK ) from Buy to Hold and lowered the price target from $5.50 to $4.50. Jefferies commented, "We are lowering our rating to HOLD from BUY. Following a weak 4Q12, activity in shales served by HEK looks sluggish into 1H13 and water services pricing is